Energy giants Total and Eni have joined forces to explore and exploit another oil and gas block up for grabs offshore from Cyprus, Cypriot authorities said.
Turkish Defense Minister Hulusi Akar on Friday reportedly warned that Turkey and its armed forces are ready to do “what is necessary” to protect the rights of Turkish Cypriots.
The European Union is insisting on becoming irrelevant in the Cyprus issue despite repeated assertions of hoping to have a role in the resolution on the island.
The Ministry of Foreign Affairs on Saturday condemned a joint statement targeting Turkey at a summit of southern European Union states, saying Ankara rejects biased remarks disconnected from reality and against international law.
Frustrated by decades of unfruitful negotiations between the Turkish and Greek sides to reunify the divided island of Cyprus, Turkish Republic of Northern Cyprus (KKTC) Ambassador to Turkey Mustafa Lakadamyalı has stated that there should be a definite deadline for negotiations on the divided Mediterranean island, adding that the talks cannot go on forever.
There were messy and embarrassing mistakes along the way. But, in the end, German Chancellor Angela Merkel got what she wanted: an end to the endemic system of money laundering and corruption in Cyprus.
Russia has a few interests at stake in the European Union bailout for Cyprus. The first and most obvious is that Russian citizens stand to lose billions of dollars worth of savings in Cyprus’s banking sector, which serves as a low-tax haven for Russian oligarchs. Those oligarchs, remember, wield outsize political power within Russia. The second is that Cyprus is a political client state of Moscow’s, a helpful little ally on such matters as sending arms to Syria. The third is symbolic, and doesn’t actually have that much to do with Cyprus itself, but with Russia’s standing in Europe.
Who has invented the tax on Cyprus bank accounts, which the Parliament of the island country doesn’t want to approve? The European Central Bank is trying to lay the blame on the President of Cyprus, and he, in his turn, blames the governments of the Eurozone countries. Meanwhile the issue, as well as the accounts in Cyprus banks have hung up for indefinite period, as they have not yet been able to “break” the MPs. Moscow also tries to take part in the resolution of this problem, which was appointed beyond its will as a “title sponsor” of Cyprus stabilization.
Greek Cyprus says it will continue natural gas talks with large companies despite Turkey’s strong opposition, blaming it with ‘showing its true face’
Energy exploration is adding a new wrinkle to the Turkish-Greek rivalry over the island of Cyprus.